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Peruvian inti


The inti was the currency of Peru between 1985 and 1991. Its ISO 4217 code was PEI and its abbreviation in local use was "I/." The inti was divided into 100 centimos. The inti replaced the inflation-stricken sol. The new currency was named after Inti, the Inca sun god.

History

The inti was introduced on 1 February 1985, replacing the sol which had suffered from high inflation. One inti was equivalent to 1,000 soles. Coins denominated in the new unit were put into circulation from May 1985 and banknotes followed in June of that year.

By 1990, the inti had itself suffered from high inflation. As an interim measure, from January to July 1991, the "inti en millones" (I/m.) was used as a unit of account. One inti en millones was equal to 1,000,000 intis and hence to one new sol. The nuevo sol ("new sol") was adopted on 1 July 1991, replacing the inti at an exchange rate of a million to one. Thus: 1 new sol = 1,000,000 inti = 1,000,000,000 old soles.

Inti notes and coins are no longer legal tender in Peru, nor can they be exchanged for notes and coins denominated in the current nuevo sol.

Coins

Coins were introduced in 1985 in denominations of 1, 5, 10, 20 and 50 centimos, plus 1 and 5 intis. The 1 centimo coin was issued only in 1985. The 5-centimo coins were issued until 1986. All the other denominations were issued until 1988.

Banknotes

In June of 1985, notes were introduced in denominations of 10, 50 and 100 intis, followed by 500 intis in December of the same year. The next year, 1,000 intis notes were added, followed by 5,000 and 10,000 in 1988. 50,000 and 100,000 intis notes were added in 1989. 500,000 intis denominations were added early in 1990, 1 million intis denominations were added in mid-1990, and 5 million intis in August 1990. The obverses featured:

10 intis - Ricardo Palma, writer

50 intis - Nicolas de Pierola, President, finance minister

100 intis - Ramon Castilla, President, Army Marshal

500 intis - Tupac Amaru II, revolutionary leader

1,000 intis - Andres Avelino Caceres, President, Army Marshal

5,000 intis - Miguel Grau, Navy admiral

10,000 intis - Cesar Vallejo, writer

50,000 intis - Victor Raul Haya de la Torre, politician

100,000 intis - Francisco Bolognesi, Army colonel

500,000 intis - Ricardo Palma

1,000,000 intis - Hipolito Unanue, medical doctor, nationalist

5,000,000 intis - Antonio Raimondi, scientist

See also

Economy of Peru

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This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article Peruvian inti


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